Intevac, Inc. (NASDAQ:IVAC) Short Interest Down 22.1% in December

Intevac, Inc. (NASDAQ:IVAC) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 137,600 shares, a drop of 22.1% from the December 15th total of 176,600 shares. Based on an average daily trading volume, of 113,000 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IVAC shares. Benchmark reaffirmed a “hold” rating on shares of Intevac in a report on Tuesday, November 12th. StockNews.com began coverage on Intevac in a research report on Wednesday, January 1st. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Intevac

Several hedge funds and other institutional investors have recently modified their holdings of IVAC. Renaissance Technologies LLC increased its holdings in Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after purchasing an additional 36,600 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Intevac by 24.7% during the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after purchasing an additional 13,144 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Intevac during the 2nd quarter valued at $144,000. Royce & Associates LP increased its holdings in Intevac by 1.2% during the 3rd quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock valued at $12,056,000 after purchasing an additional 43,052 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Intevac by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock valued at $382,000 after purchasing an additional 10,013 shares in the last quarter. Institutional investors own 60.27% of the company’s stock.

Intevac Stock Down 0.6 %

Shares of IVAC stock traded down $0.02 during mid-day trading on Thursday, reaching $3.49. The stock had a trading volume of 902 shares, compared to its average volume of 34,282. The firm’s 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.41. Intevac has a one year low of $2.46 and a one year high of $4.51. The firm has a market cap of $94.13 million, a PE ratio of -10.58 and a beta of 0.66.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, November 11th. The electronics maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. The company had revenue of $28.51 million during the quarter. Intevac had a negative return on equity of 8.82% and a negative net margin of 13.55%.

Intevac Company Profile

Intevac, Inc, together with its subsidiaries, engages in the designing, developing, and manufacturing thin-film processing systems in the United States, Europe, and Asia. It designs, develops, and markets vacuum process equipment solutions for manufacturing small substrates with precise thin-film properties, such as hard disk drive, advanced coatings, and other adjacent thin-film markets.